StockNews.com Upgrades Stryker (NYSE:SYK) to “Buy”

StockNews.com upgraded shares of Stryker (NYSE:SYK) from a hold rating to a buy rating in a report published on Thursday morning.

Several other research analysts have also recently weighed in on the stock. Evercore ISI lifted their price target on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup lifted their target price on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. BTIG Research boosted their price target on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Stock Performance

Shares of SYK opened at $366.04 on Thursday. Stryker has a one year low of $306.10 and a one year high of $398.20. The business has a fifty day moving average of $375.40 and a 200 day moving average of $357.83. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The firm has a market capitalization of $139.54 billion, a P/E ratio of 39.23, a PEG ratio of 2.82 and a beta of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the prior year, the firm earned $2.46 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stryker will post 12.06 EPS for the current year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is 36.01%.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Stryker

Institutional investors and hedge funds have recently made changes to their positions in the business. Dunhill Financial LLC lifted its holdings in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the last quarter. Centennial Bank AR raised its position in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC bought a new stake in shares of Stryker in the 3rd quarter valued at approximately $36,000. HBW Advisory Services LLC purchased a new position in shares of Stryker in the 3rd quarter worth approximately $42,000. Finally, Hara Capital LLC bought a new position in shares of Stryker during the 3rd quarter valued at approximately $42,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.